WRAPUP 3-US revised 1st-quarter growth fastest in 2-1/2 years

Newswire

(Updates with closing market quotes) By Glenn Somerville WASHINGTON, May 25 (Reuters) - The U.S. economy shot ahead at an upwardly revised 5.3 percent annual rate in the first quarter, the fastest pace of growth in 2-1/2 years, but prices remained in check, a Commerce Department report on Thursday showed. Analysts, noting the report was old news, said it did nothing to resolve whether the Federal Reserve will extend a string of 16 straight interest-rate rises since mid-2004. The ...

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